tips to choose the best credit card processor for your business

How to Choose The Best Credit Card Processor for Your Business

Selecting the right payment processor is crucial for enabling any business to accept payments and maximize processing profitability reliably. However, with so many merchant account providers, credit card processors, and processor options now on the market, business owners must carefully assess their needs to determine the best-fit partnership for their company.

As leaders in the credit card processing industry catering to SMBs and high-risk businesses across all industries, Ezzy Payment recommends merchants evaluate key factors like average ticket size, monthly volume, required integrations, and more when selecting a processing services provider for their business payment needs.

Understanding Key Terminology

When navigating the complex credit card processing services industry and assessing providers, it helps to clarify some common terminology:

Merchant Account – The business bank account where credit card payments flow into from the processor.

Payment Processor – The behind-the-scenes payment technology company processing electronic transactions.

Merchant Services Provider – The processor and/or bank providing the merchant account and processing capabilities.

Credit Card Processor – The system handling the sending of transaction data from the point-of-sale (POS) to the appropriate card network.

Card Network – Entities like Visa, Mastercard, and Amex building the credit card payment infrastructure.

Payment Gateway – The software connecting the merchant’s website shopping cart to their processing network.

Determining Business Payment Acceptance Requirements

When selecting a credit card processor or payment processor, the solution must align with your business needs and goals around accepting payments. As a merchant services provider, Ezzy Payment assists business owners in first defining their unique requirements based on:

Average Ticket Size – Are transactions under $15 micropayments? Over $1000 high-risk tickets? Ticket size dictates suitable processors.

Monthly Volume – Low vs high volume impacts rates and pricing models across providers.

Transaction Types – Understand the split between card-present vs ecommerce transactions needing payment gateways.

Card Brands Accepted – Take all major brands? Niche debit cards? Determines supported options.

Payment Methods – Take Apple/Google Pay? Checks? ACH? Cryptocurrency? Support varies.

Software Integrations – Identify specific accounting, POS, and other platforms needing API integration during payments.

Ezzy Payment has experience tailoring the best payment processing solutions and providers for businesses across all these variables.

Evaluating Fees & Pricing Models

When a small business chooses a merchant services provider, one of the most critical factors decision-makers evaluate are the rates, interchange fees, and overall pricing models across different credit card processing companies.

As industry veterans dealing with all types of business transactions, Ezzy Payment reminds owners to compare:

Interchange Fees – Set by the card networks based on transaction attributes.

Assessments – Additional network costs passed onto merchants.

Markups – Added margin above interchange that is the processor’s revenue.

Monthly Fees – Account management and statement fees are levied monthly.

Non-Compliance Fees – PCI, security penalties for merchants.

Our dedicated merchant account managers help businesses minimize these fees by aligning them with the optimal processor pricing approach for their unique profile.

Choosing Value-Added Merchant Services

Beyond competitive credit card payment processing rates, Ezzy Payment advises clients to seek additional value-added services and features in a provider that enhance operations, such as:

Free POS Systems – Providers like Ezzy Payment supply quality point-of-sale systems to merchants for free in exchange for transaction volume commitment. 

Business Funding Programs – Processors like Payment partner with lending firms to facilitate small business financing for clients needing funds.

Virtual Terminal – Allows business owners to manually key in card transactions from any internet-enabled device for phone/mail orders.

Business Intelligence Tools – Custom reporting dashboards with sales insights, inventory management, customer analytics integrations, and more.

As an established industry leader catering to all types of merchants, Ezzy Payment is proud to offer eligible businesses best-in-class solutions across all these value-adds when they choose us as their merchant services provider.

Security Should Not Be Sacrificed

Ezzy Payment believes merchants should never compromise security protections or compliance standards when choosing payment solutions for their business. As providers store sensitive cardholder data, it’s paramount they implement:

Tokenization – Encrypting payment information into random tokens so raw card data never touches merchant systems.

EMV Chip Readers – The newest card reader technology with embedded microchips for enhanced point-of-sale security.

PCI DSS Certification – Rigorous independent audit testing security protocols, access controls, data protection, and more.

Ezzy Payment invests heavily in our multilayer security infrastructure and PCI compliance teams so clients can have confidence and trust in us fully securing every transaction.

Optimizing the Merchant Services Contract

Before signing a binding contract with any payment processor or merchant services provider, Ezzy Payment reminds business owners to review the terms around:

Cancellation Policy – Are long multi-year commitments required? What are early termination fee penalties?

Fee Increase Controls – Allows unilateral rate hikes at discretion? Seek predictable pricing.

Account Portability – Easy exit providing transaction history records if migrating processors.

Third-Party POS Integration – Some prohibit integrating modern tablets and apps into the payments ecosystem, which can be important to your business. 

Our dedicated account management team negotiates favorable month-to-month agreements without early termination fees so merchants have the flexibility to scale payment solutions with their evolving business needs.

Steps to Choosing the Right Payment Processor

When ready to evaluate providers, Ezzy Payment recommends business owners use this checklist:

  1. Document your payment acceptance requirements first – volumes, software needs, etc.
  2. Leverage merchant services partners like us to identify suitable processors matching your criteria.
  3. Compare pricing models and full-fee structures across multiple quotes.
  4. Assess additional tools, hardware, and integrations that improve operations.
  5. Validate security standards, compliance, and consumer reputation.
  6. Negotiate contract termination policies and length to maintain flexibility.

With customized guidance from merchant services consultants like those at Ezzy Payment tailored to your unique payment needs and business goals, you can identify the perfect credit card processor or payment processor partnership. Optimizing processing profitability and reliability saves substantial amounts over the long term.

Contact Ezzy Payment for a complimentary analysis of your merchant statement and how much you can save in credit card processing fees.



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